Handy Hardware Secures Ch. 11 Plan, Sale To PE Firm

Law360, Wilmington (July 25, 2013, 6:54 PM EDT) -- A Delaware bankruptcy judge confirmed Handy Hardware Wholesale Inc.'s Chapter 11 plan Thursday, signing off on a deal that will see the hardware cooperative sold to a unit of private equity firm Littlejohn Management Holdings LLC for approximately $30 million.

Houston-based Handy Hardware sought court protection intending to restructure operations but revised its initial reorganization plan to incorporate a sale after reaching the deal with Littlejohn.

The amended plan represents the best interests of all parties and deserved the court's approval, Handy Hardware attorney Gregory A. Taylor...
To view the full article, register now.